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TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why more Americans could benefit from new U.S. electric vehicle rules.

More Americans could be eligible for EV tax credits

⏲ 2:5 👁 9.1M

iNewZ TV

WATCH FULL DEBATE: ND Senate Votes Down Increasing Oil Extraction Tax

⏲ 31 minutes 28 seconds 👁 21

Valley News Live

North Dakota Lowering Oil Extraction Tax

⏲ 52 seconds 👁 6

There’s an easy and effective way savers can minimize the damage of a retirement tax bomb. It all starts with making one simple shift in your retirement savings contributions.

Ways Retirees Can Defuse A Retirement Savings Tax Bomb

⏲ 3:0 👁 4.5M

KFGOweb

Mike on Lowering the Oil Extraction Tax

⏲ 2 minutes 30 seconds 👁 75

KX News

Oil extraction tax

⏲ 1 minute 2 seconds 👁 20

The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.

IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed

⏲ 1:29 👁 7.5M

Ron Shegda

Governor Rendell explains the Natural Gas Extraction Tax

⏲ 3 minutes 8 seconds 👁 58

Valley News Live

ShaleTrader.com's Michael Filloon talks about the amended oil extraction tax bill

⏲ 6 minutes 31 seconds 👁 8

During a House Ways and Means Committee hearing Tuesday, Rep. Drew Ferguson (R-GA) spoke about tax credits.<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com

'The Math Doesn't Add Up': Drew Ferguson Presses Janet Yellen On Biden's 'Green Energy' Tax Credits

⏲ 5:9 👁 4.8M

CBC News: The National

Carbon tax crash course: How it works and what it will cost you

⏲ 6 minutes 16 seconds 👁 77.1K

Zeteo

Is Biden the ‘White Moderate’ that MLK Warned Us About? | Mehdi Hasan and Owen Jones

⏲ 35 minutes 19 seconds 👁 2.2K

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